The state of Florida has announced that citizens will be able to pay their state taxes in bitcoin. The state has been a hotbed for crypto activities, with Miami Mayor Francis Suarez pledging to make the city the nation’s crypto hub.
This has reaped benefits for the city and its residents in a variety of ways, and now the state is taking another step forward in its crypto agenda by allowing tax payments in cryptocurrencies.
Paying Taxes in Cryptocurrencies
Florida Governor Ron DeSantis recently announced plans to allow residents to pay their taxes using cryptocurrencies such as bitcoin. The governor explained that he had asked various state agencies to start working on ways for Florida businesses to make tax payments in cryptocurrencies more easily. People (businesses) should be able to pay their taxes in cryptocurrencies if they so desire, he added.
During a signing ceremony for a new bill, DeSantis said this. This new bill would require financial literacy classes in all high schools in the state, and given the governor’s comments on cryptocurrencies, it is expected that cryptocurrencies will be taught in these financial literacy classes as well.
“I’ve told the state agencies to figure out ways where if a business wants to pay tax in cryptocurrency to Florida, we should be willing to accept that,” stated Governor DeSantis.
The state is following in the footsteps of Colorado, which recently announced that residents will be able to pay their taxes with cryptocurrency. These two states are among the most crypto-friendly in the US, alongside New York and Wyoming, both of which have lawmakers who have been outspoken about their support for cryptocurrencies and their use in their respective jurisdictions.
